Alberto Fernández at his lowest ebb as president of Argentina

Pollsters show that President Alberto Fernández of Argentina is at his worst point since taking office in 2019, as the country continued to spiral into a debt and currency crisis throughout the week.

Only 21 percent of Argentinians polled by Synopsis said they had a positive view of Mr. Fernández. The percentage of respondents with a negative image of the president reached 78 percent in the latest measurements, 5 points above June.

The drop reflects what has been a month of political and economic instability, with Martín Guzmán resigning from the Economy Ministry and his replacement Silvina Batakis scrambling to contain a massive currency run with a series of austerity promises.

The Argentinian Peso has continued to lose value regardless, peaking at ARS 350 to the U.S. Dollar earlier today, and now trading at USD 1 : ARS 330 in the free market. 

The regulated official rate, meanwhile, stands at USD 1 : ARS 130, but Argentina’s Central Bank is heavily limiting imports to keep it at that value — as demand for cheap dollars outpaces supply.

Analysts have long-feared that this will ultimately lead to the inevitable devaluation of Argentina’s official exchange rate, making food and basic inputs even more expensive locally. 

Yesterday, social leader Juan Grabois — an on-and-off ally of the Fernández administration and close confidant of Pope Francis — was at his angriest during a public rally demanding further aid for the poor, warning of blood in the streets and potential looting if the situation did not improve.

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